Judging by the whole of 3 answers, Flash Lite has not interest and thus no future 
William, Wehnzi and Tom all gave good answers, however, it’s all a bit close between you guys, but I think Tom just snatches it. The only real way to get around the lack of consistency across phone OSs etc, is to either convince the phone / OS manufacturers that AIR is a great platform unifier or to allow them to use the full Flash player via a phone browser (as SkyFire are doing - http://www.skyfire.com/).
So, Tom, please send me your mailing address and congrats on the win.
